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BOI takes steps for SEBI's min public holding norms
The Business Guardian
|July 10, 2023
State-owned Bank of India is exploring the possibility of share sale to investors over the next one year to meet the minimum public holding requirement of 25 per cent.
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Currently, Government of India holds 81.41 percent stake in the Mumbai-based bank. “We are exploring options to meet the Securities and Exchange Board of India’s (SEBI) minimum public holding requirement. However, the decision to sell shares would depend on market conditions,” Bank of India Managing Director Rajneesh Karnatak told the media.
Public sector banks have time till August 2024 for meeting the SEBI requirement, he said.
This story is from the July 10, 2023 edition of The Business Guardian.
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